Key Facts
• In January 2025, a luxury condo in Nagoya’s Higashi Ward was completed.
• “Shumokucho Residence The Feud” offers units starting at over ¥100 million.
• The top-floor unit (124 sqm, 2LDK) is priced at ¥240 million.
• Tokyo’s average new condo price exceeds ¥100 million; Nagoya’s is ¥58 million.
• Rising costs of materials, fuel, and labor drive record-high construction expenses.
• Proximity to stations boosts demand due to stable asset value and convenience.
• Virtual model rooms using LED displays reduce setup costs significantly.
• Leasehold condos in Nisshin City start at ¥30 million for 3LDK units.
• Leasehold properties save ¥15 million but must be vacated after 60 years.
• Urban condo demand remains strong despite Japan’s declining population.
• Experts predict oversupply issues in suburban areas with poor accessibility.
Summary
The Japanese condo market continues to thrive despite soaring prices and a declining population. Luxury condos, such as Nagoya’s “Shumokucho Residence The Feud,” cater to affluent buyers, with units priced at over ¥100 million. Rising construction costs have pushed Tokyo’s average new condo price above ¥100 million, while Nagoya’s stands at ¥58 million. Proximity to train stations remains a key factor for demand, ensuring stable asset value. Innovative cost-saving measures, like virtual model rooms, help curb price hikes. Leasehold condos offer affordable options for younger buyers but come with limitations, such as a 60-year occupancy cap. While urban areas see sustained demand, experts warn of potential oversupply in less accessible suburban regions. The market’s future hinges on balancing demand, affordability, and Japan’s demographic challenges.
